Azalea Health Receives $10.5 Million in Series B Funding from Kayne
Partners Fund

July 15, 2016 01:24 PM Eastern Daylight Time

ATLANTA--(BUSINESS WIRE)--Azalea Health announced today that it has closed its $10.5 million
Series B round of funding. The round was led by Kayne Partners, the
growth private equity group of Kayne Anderson Capital Advisors, L.P., an
alternative investment firm managing over $22.5 billion in assets.
Existing Azalea investor Intersouth Partners, a venture capital firm in
Durham, NC, also participated in the round.

Azalea Health is a leading provider of fully integrated,
technology-enabled healthcare solutions and Revenue Cycle Enhancement™
services for practices of all sizes and most specialties. "The
additional capital allows us to rapidly advance organic growth and
consolidate the market through acquisition," said Justin Pierce, Vice
President of Sales.

“We are very pleased with this opportunity to partner with Kayne
Anderson, a like-minded, technically focused equity provider that has a
strong track record within the health IT space,” said Baha Zeidan, CEO
and Co-Founder.

“Now more than ever, hospitals and physicians need tools that deliver a
strong ROI, streamline workflow, and are easy to adopt and use,” Zeidan
continued. “With payment reforms focused on achieving outcomes and lower
costs, healthcare organizations require a comprehensive end-to-end
platform that supports every aspect of their practice.”

“Kayne strives to identify companies with unrivaled competitive
advantages in fast-growing industries which are led by exceptionally
strong management teams. Azalea is solving unique healthcare access and
delivery needs in the U.S. rural healthcare market. We recognize this is
a significant growth opportunity for Azalea and believe they are
uniquely positioned to take advantage of these opportunities,” said
Nishita Cummings, Partner, Kayne Partners. Cummings will join the board
of Azalea Health.

Azalea Health focuses on rural markets that are traditionally
underserved by healthcare technology. The company is able to
cost-effectively meet the needs of community and critical access
hospitals, including Federally Qualified Health Centers (FQHCs) and
Rural Health Clinics (RHCs), as well as their associated physician
practices.

Approximately 20 percent of the U.S. population lives in rural areas,
but only 10 percent of U.S. physicians practice there. This disparity
creates unique healthcare access and delivery challenges for patients,
caregivers and physicians ultimately resulting in significant costs to
the healthcare system.

Azalea Health, established in 2008, is headquartered in Atlanta, GA, and
serves customers nationwide. By using true cloud-based technology,
Azalea eliminates the need to manage hardware and software, while
reducing the complexity and cost of EHR technology.

Azalea Health is a leading provider of fully integrated,
technology-enabled healthcare solutions and managed services for
practices of all sizes and most specialties. Azalea’s comprehensive
portfolio includes integrated electronic health records, practice
management, electronic prescribing, interoperability services, personal
health records, patient portal, telehealth, Azalea M™ mobile platform
integrated with Apple® HealthKit, as well as Revenue Cycle
Performance™ services. The Azalea platform also provides tools and
resources to help customers meet their Meaningful Use and ICD-10
requirements, as well as strategies to navigate accountable care and
alternative payment models. To learn more, please visit www.AzaleaHealth.com,
call (877) 777-7686 or connect via social media on Facebook, Twitter and LinkedIn.

About Kayne Partners

Kayne Partners is a leading provider of capital and connections to
rapidly growing companies in North America. Since its inception more
than a decade ago, it has invested over $600 million in platform
investments and add-on acquisitions. Kayne Partners seeks to partner
with driven entrepreneurs as a non-control minority investor and provide
transformative capital to these high growth companies. Kayne Partners is
the growth private equity group of Kayne Anderson Capital Advisors, L.P. www.kaynepartners.com

About Kayne Anderson

Kayne Anderson Capital Advisors, L.P., founded in 1984, is a leading
independent alternative investment management firm focused on niche
investing in upstream oil and gas companies, energy infrastructure,
specialized real estate, middle market credit, and growth private
equity. Kayne’s investment philosophy is to pursue niches, with an
emphasis on cash flow, where its knowledge and sourcing advantages
enable it to deliver above average, risk-adjusted investment returns.
Kayne manages over $22.5 billion in assets (as of 6/30/16) for
institutional investors, family offices, high net worth and retail
clients and employs nearly 300 professionals in eight offices across the
United States. The firm is headquartered in Los Angeles with offices in
Houston, New York City, Chicago, Denver, Dallas, Atlanta and Boca Raton.
For more information, please visit our website: www.kaynecapital.com.